Guideline Value

Corporate

Guideline Value for Venus Colony 1st Avenue

₹3850/sq.ft.

The guideline value for Venus Colony 1st Avenue in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Venus Colony 1st Avenue

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Venus Colony 1st Avenue guideline value

The current guideline value of Venus Colony 1st Avenue is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Venus Colony 1st Avenue has changed

The guideline value for Venus Colony 1st Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The latest revision in 2024 has further increased the guideline value to Rs 3,850 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Venus Colony 1st Avenue's 2024 figure below that median.

Stamp duty and registration fee for property in Venus Colony 1st Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venus Colony 1st Avenue?

The Sub Registrar Office that covers Venus Colony 1st Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

The guideline value is an essential factor when registering property in Velachery. It is used to determine the stamp duty and registration fees that are applicable during the transaction process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. If the sale price exceeds the guideline value, the higher amount will be considered for duty calculation.

Frequently asked questions

What is the current guideline value of Venus Colony 1st Avenue?

The current guideline value of Venus Colony 1st Avenue is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the stamp duty for property in Venus Colony 1st Avenue?

The stamp duty for property in Venus Colony 1st Avenue is 7% of the guideline value or the sale price, whichever is higher. For a guideline value of Rs 38,50,000, the stamp duty would be Rs 2,69,500.

Where can I find the Sub Registrar Office for Venus Colony 1st Avenue?

The Sub Registrar Office for Venus Colony 1st Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Venus Colony 1st Avenue?

The land classification for Venus Colony 1st Avenue is Residential Class II Type - III.